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BaFin announces another warning on unauthorized crypto services by Interactive Assets

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BaFin announces another warning on unauthorized crypto services by Interactive Assets
Web3/Crypto
Webp branson3
Mark Bran­son, president of BaFin | BaFin

The Federal Financial Supervisory Authority (BaFin) has issued a consumer warning concerning Interactive Assets, a company allegedly offering unauthorized crypto and financial services through new websites. This announcement was made in a news release on March 3, 2025.

According to BaFin, the websites interactiveassets.site and interactiveassets.top are suspected of providing unauthorized financial, investment, and cryptoasset services. The operators of these sites are reportedly misrepresenting affiliations with Baden-Württembergische Wertpapierbörse GmbH and Börse Stuttgart GmbH, while also falsely claiming supervision by BaFin. The warning is issued under the German Banking Act and Cryptomarkets Supervision Act to alert consumers about potential identity fraud and unauthorized financial activities.

The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It emphasizes market transparency, operational resilience, and compliance with European crypto regulations. The KMAG mandates that crypto service providers secure licenses, maintain robust systems, and ensure transparent practices within the sector. This framework aims to support secure and compliant market operations in alignment with EU standards.

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Blockpit's analysis of Europe's safest licensed cryptocurrency exchanges ranks Binance first due to its regulation in multiple European countries, AES-256 encryption, and the Secure Asset Fund for Users (SAFU) program for user protection. Coinbase follows in second place with 98% of assets held offline, licensing by BaFin in Germany, and advanced security protocols. Kraken ranks third by storing 95% of assets in cold wallets and adhering to regulations across the EU and other regions.

BaFin oversees the stability and integrity of Germany's financial system. It supervises banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, among others. Its responsibilities include solvency supervision, market supervision to ensure fair conditions, and preventing misuse for money laundering or terrorist financing.

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